Markets end at record highs; Nifty closes above 9,900 for first time ever

The market settled Monday's trade at record highs thanks to strong gains in IT counters such as Infosys and Wipro. Index heavyweight Reliance Industries, crossing the Rs 5 lakh crore market capitalisation for the first time ever, added to the gains, while ITC, dropping over 4% on speculations of an expected hike in cess by GST Council, hogged the limelight.

In intraday trade, the S&P BSE Sensex and Nifty50 logged their fresh lifetime highs of 32,131 and 9,928, respectively.

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Meanwhile, Asian markets set a fresh two-year high, boosted by stronger-than-expected economic growth in China and bets that lacklustre US data will keep the Federal Reserve cautious about the pace of further policy tightening.